The unusual billionaires by Saurabh Mukherjea

Book Summary –

The Unusual Billionaires uncovers the strategies of seven exceptional Indian companies—Asian Paints, Berger Paints, Marico, Page Industries, HDFC Bank, Axis Bank, and Astral Poly—that consistently outperformed more than 5,000 listed peers by maintaining at least 10% annual revenue growth and 15% return on capital employed for a full decade. Mukherjea analyzes how these enterprises achieved sustained success through focused core businesses, deepening competitive moats, rigorous corporate governance, prudent capital allocation, and investment in brand, stakeholder relationships, and work culture.

He introduces the "Coffee Can" portfolio philosophy—select high-quality stocks and hold them long term—and distills key insights using frameworks like IBAS (Innovation, Brand, Assets, Stakeholders). Through vivid case studies—such as Asian Paints resisting over-diversification, Axis Bank’s boardroom drama, and Page Industries' resistance to discounting—Mukherjea illustrates how clarity, discipline, and governance fuel corporate resilience and investor returns. The book also concludes with a practical checklist for long-term investors and business leaders to evaluate companies on focused strategy, moat-building, clean accounting, and fair capital practices.

About the Author –

Saurabh Mukherjea is an influential Indian investment strategist, portfolio manager, and author. He is the founder and CIO of Marcellus Investment Managers and formerly served as CEO of Ambit Capital. A London School of Economics alumnus and CFA charterholder, Mukherjea has been recognized multiple times as India’s top equity strategist in Asiamoney polls. Beyond The Unusual Billionaires, he has written several bestsellers including Coffee Can Investing, Diamonds in the Dust, and Gurus of Chaos. His writing is characterized by deep research, insightful storytelling, and frameworks designed to help readers understand how high-performing Indian firms deliver long‑term value.

Together, The Unusual Billionaires serves as both a compelling business narrative and a practical manual—blending corporate case studies with investing frameworks to show how disciplined focus, strong governance, and long-term mindset can fuel extraordinary success in Indian markets.